Former diplomat DP Srivastava has said that India must review its heavy dependence on Russian oil and diversify its import sources to safeguard energy security amid tightening US sanctions on Moscow’s oil sector.
“It is good policy to diversify sources of oil imports. Depending on Russia for 30–34% of our oil supply needs a review,” he told CNBC-TV18.
His comments come after the US government imposed fresh sanctions on Russia’s two biggest oil companies — Rosneft and Lukoil — to pressure Moscow into negotiating a peace deal with Ukraine.
The European Union also announced its 19th package of sanctions, which includes a ban on imports of Russian liquefied natural gas (LNG).
Srivastava said the new sanctions are largely aimed at Russia’s reluctance to meet US terms for ending the war in

CNBC-TV18

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